o The modern CFO is a technology evangelist who recognizes the value of digital and cloud technologies for the finance function and the business as a whole, but a gap remains between CFO ambitions and reality;
o Finance departments recognize that cloud capabilities will be useful for budgeting, planning and forecasting as they fulfill modern finance’s mandate to be a strategic partner and help drive business growth; and
o To act as a strategic partner to the business, forward-thinking finance teams are using sophisticated analytical tools, modern applications and the latest social, mobile, cloud and collaboration tools to stay closely linked to the vision, strategies and activities of their peers across the enterprise.
o Over two-thirds of respondents agree the CFO is a strong evangelist for the transformational potential of technology and nearly three-quarters of finance executives believe new technologies such as the cloud, mobile technology and social media will change how finance is structured and run.
o However, only 20 percent of C-suite executive respondents believe that their finance organizations have adopted leading-edge technologies, in contrast to sales organizations, in which 43 percent of C-suite executives view as already having done so.
o Nearly half of respondents saw an increase in the number of finance analysts hired over the past two years, reflecting the growing need for finance talent with a deeper and broader range of business and analytical skills.
o For example, 23 percent of non-finance respondents feel that the ability of finance to provide an up-to-date view of performance against budget “falls below expectations,” and nearly twice as many finance respondents (42 percent) think they could do far better.
o Survey respondents clearly see the potential for the cloud to deliver new insights through advanced analytics and business intelligence. More than a quarter of respondents (28 percent) are already using the cloud to support budgeting, planning and forecasting, and another 34 percent plan to move them into the cloud within the next year.
o In addition, more than two-thirds of executives surveyed have either already adopted a cloud-based system in some part of their organization for core financials (24 percent), or are planning a road map for doing so (45 percent).
o While about 30 percent of finance and line of business executives responding agree their processes are still paper-based, there is a clear trend toward automating and digitizing processes, with nearly 50 percent now using mobile apps and 53 percent leveraging web-based systems.
o Only 5 percent of respondents cite lack of senior management support as a barrier to adopting new technologies in the finance function. Ability, rather than willingness, seems to be a greater factor, with 38 percent of respondents citing lack of internal skills as a key barrier.
Of the 1,275 respondents, 663 (around 52 percent) were from Europe, 268 (around 21 percent) were from North America, 191 (around 15 percent) were from Asia Pacific, 89 (around 7 percent) were from the Middle East and Africa and 64 (around 5 percent) were from Latin America. Among those finance professionals surveyed (975), about half were CFOs and finance directors, while the balance were direct reports.300 respondents were line of business (non-finance) executives. Respondents represented companies with annual revenues in excess of US$250m, and 51 percent of them represented companies with annual revenues in excess of US$1b.
About AccentureAccenture is a global management consulting, technology services and outsourcing company, with approximately 281,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
Accenture is a Diamond level partner in Oracle PartnerNetwork (OPN).
About OracleOracle engineers hardware and software to work together in the cloud and in your data center. For more information about Oracle (NYSE:ORCL), visit www.oracle.com.
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Contact Info
Danielle Cormier-Smith
Oracle
+1.610.766.3463
danielle.cormier@oracle.com
Simon Jones
Blanc & Otus
+1.415.856.5155
sjones@blancandotus.com
Barbara Lyon
Accenture
+1.703.947.1838
barbara.d.lyon@accenture.com
© Издание 12NEWS (ИП Маринин А.Л.) 12news.ru, 2014